Bridge
Financing of newly constructed or renovated properties that are currently vacant and stabilized and are ineligible for permanent financing.
Lending Criteria
LOAN AMOUNT | $150,000 to $1.5 million. Loan amounts outside of this range considered. |
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LOAN TERM | 6, 12, 18 or 24-months |
PAYMENT TYPE | Interest-only with a balloon payment at maturity |
LOAN TO VALUE | Up to 75%; 65% for cash-out |
LOAN TO COST | Up to 75% |
CLOSING TIMELINE | 5 to 10 business days |
Additional Guidelines
FICO | 680 min soft credit assessment |
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PROPERTY CONDITION | Must be in C1-C4 condition with no renovations outstanding |
ELIGIBLE PROPERTIES | Single-family, townhomes, warrantable condos, and 2-4 units (5-10 units considered) |
ELIGIBLE STATES | Nationwide except ND, NV, SD, VT and WV |
BORROWER | Loans are made to entities. A personal guarantee is customary. |
Mortgages are offered in partnership with Vontive, NMLS ID 1716495 (“Lender”). This is not a commitment to extend mortgage credit. Mortgage products, programs, eligibility criteria, pricing, and terms are subject to change without notice and at the sole discretion of the lender. All data and information is provided “as is” for informational purposes, may not be accurate, and may be subject to change without notice. Unless otherwise communicated in writing, all data and information Lender provides is “as is” without any warranty whatsoever. Additional disclosures and information, including state licensing of Lender, is available at www.vontive.com.
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4480H S. Cobb Dr. STE475, Smyrna, GA 30080